Deputy Prime Minister of Turkmenistan in charge of trade Batyr Atdayev met with the Deputy Prime Minister of Uzbekistan – Minister of Investment and Foreign Trade Sardor Umurzakov in Bukhara on Wednesday (13 Jul).
During the negotiations, the steady growth of trade turnover between the two countries was mentioned and an agreement was reached to increase trade to US$2 billion in the near future.
In 2021, a 67% increase in mutual trade was registered.
In this context, the parties agreed to accelerate the launch of the border trade zones Lebap – Bukhara and Dashoguz – Khorezm.
The cargo traffic between Uzbekistan and Turkmenistan has shown a significant growth in 2021, estimated at 2.2 million tons, with a 50% increase in rail transport and a 300% surge in road transport year-on-year.
In this regard, the DPMs considered joint measures to develop transport and logistics ties and unfold the transit potential of the two countries. They talked about improving the conditions for tariff regulation of direct and transit traffic, as well as joint actions to diversify transport routes.
During the meeting, topical issues of bilateral cooperation in the field of industrial cooperation were touched upon. Currently, there are 173 enterprises with Turkmen capital operating in Uzbekistan.
At the same time, the sides underscored the ample opportunities for joint projects in agriculture, the production of building materials, automotive, textile, pharmaceutical and electrical industries, as well as in the chemical industry, bearing in mind the modernization of enterprises and the expansion of the range of joint production.
The parties also welcomed the idea of greater involvement of two country’s business communities to partnership in order to expand mutually beneficial industrial cooperation projects. ///nCa, 14 July 2022